Why Cancel Your Credit Cards?

You might think that by cutting up an old credit card that you are safe from fraudsters. Think again - the card is still live. You will need to cancel the card with the issuer to be sure that the details can never be used for fraudulent purposes.

"Unless you tell the card company you want to cancel it, the card remains live. If a fraudster gets hold of the details they can rack up bills without your knowledge."

So make sure you keep track of all your credit cards, and cancel any unused ones properly by contacting the issuer.

Full Article At MyFinances.co.uk.